As usual, there is plenty of hype about the next generation iPhone from Apple. Whether it’s named the iPhone 4S or the iPhone 5 is yet to be officially announced. Plenty of rumors have been circulating about the newest iPhone, and with the unveiling and launch likely less than a month or so away everyone is wondering what rumors will become reality in the actual phone.

As previously mentioned the upcoming iPhone will likely be named either the iPhone 4S or iPhone 5. There will be an upgraded processor; Going from the A4 to the A5, which is the processor currently used in the iPad 2. Will they stick to 512MB of RAM, or go for the big 1GB? Go big or go home, right? Apple will probably go big here. There is a very good chance the camera will be upgraded from 5MP to 8MP. I’m willing to bet the screen will extend to the very edge of the phone, [picture] which will allow a larger screen of around 4”, up from 3.7”, without compromising too much on the physical size of the phone, if at all. Along with the bigger screen it is feasible that Apple could again increase the resolution of the screen, upping the ante with the “Retina Display”. The iPhone 5 will probably be thinner and lighter than the current design. Some seem to believe there are decent odds the next-gen iPhone will also sport a new design, but aside from the previously mentioned physical changes and possibly no home button, it will likely look quite similar to the iPhone 4.

There have been talks that Apple may replace the home button with on screen gestures, but this one folks, is a coin toss. How about a 64GB version? Why not? It would make a lot of sense... or would it? I agree with Redmond Pie saying this one is probably 50-50. I’ll explain why later. Objectively, full HD recording is another 50-50 shot, but I personally feel Apple will provide this. Then again, sometimes they choose to be behind the curve in some aspects. Like the iPad 2, the iPhone 5 will be able to output full 1080p video, with the help of an adapter of course. 4G LTE and NFC (Near field communication) technology? I don’t believe so, but others would strongly disagree.

Why don’t I believe Apple will have 4G LTE or NFC technology available for the iPhone 5? The technology is not wide spread enough. However, there are currently rumors that both Verizon and AT&T are testing 4G iPhones so what do I know. As for a 64GB iPhone, why may Apple hold out on us? One word: iCloud. Apple is trying hard to promote the new cloud storage service, and keeping the physical hard drive size the same size means more reason for the consumer to use that service. However, I feel that regardless of iCloud, Apple will probably upgrade the hard drive space and hope that the ability to keep all iDevices and computers synced with each other all the time, wirelessly and where ever internet is available, is enough to bring in iCloud users.

On paper, it appears that the iPhone 5 will definitely be amazing. But is it worth the extra $100 for those of us who already own an iPhone 4? Will I personally be upgrading early? No. “Why?” You might ask. My answer: Mainly gut feeling, and that I’m personally more excited for iOS 5 than an upgraded iPhone 4. If I’ve learned anything in my life, it’s to trust my gut, and for some reason, as great as the iPhone 5 sounds, my gut is telling me the iPhone 6 is going to be unbelievable. Hopefully, my gut is right, and the iPhone 6 turns out to be an incredibly revolutionary device. Only time will tell... or an Apple slip up.

P.S. Check out the source link for a nice visual breakdown of the rumor roundup.